Lenah Valley, 7008 ranked 36th in TAS when comparing growth in median property values or capital gain over the last 12 months. Lenah Valley is one of 606 in our list for TAS
When looking at the potential capital gains offered to property investors over the last 3 years, Lenah Valley comes in at number 21th in TAS.
Property investors looking for a bargain in Lenah Valley should be aiming for at least -7.38% off the asking price, which is the average vendor discount being achieved at the moment.
With the median price for a house in Lenah Valley being $470000 and the advertised rent reaching $397.5 the gross rental yield for property investors calculates out to be 4.40%
Property value increases in Lenah Valley have tracked just higher than the TAS average of 4.00% over the last 12 months.
Lenah Valley,7008 has offered an average of 13.89% return per annum in house price rises to property investors over the last three years.
LACK OF BUYER INTEREST may well be the reason that Lenah Valley is offering property investors an average of -5.71. This rate of discount on properties puts Suburb at number 18th in terms of most discounted suburbs in TAS
On average over the past year, suburb has had 3.17 sales per month, which equates to 38 per year.
Renters in Suburb are facing rents around $3540 per annum or $295 every week.
Lenah Valley is just 5km north-west of the Hobart CBD, situated in the foothills of Mount Wellington. It’s serviced by a number of bus routes affording easy access to the CBD, although congestion can be a problem on Augusta Road at peak times.Full summary
Information supplied by:
Lenah Valley is just 5km north-west of the Hobart CBD, situated in the foothills of Mount Wellington. It’s serviced by a number of bus routes affording easy access to the CBD, although congestion can be a problem on Augusta Road at peak times.
There is a reasonable level of amenities within the suburb itself, including a primary school, a Catholic school and a number of shops, cafes and restaurants on Augusta Road. The wider amenities of New Town and North Hobart are also within easy reach, as is the larger shopping centre in Moonah. There are also a number of reserves and parks in the area, as well as impressive views of Mount Wellington to the west and the Derwent River to the east.
It’s affordable in comparison to neighbours Mount Stuart, New Town and West Hobart, and demand for property is high, with realestate.com.au reporting 26 people searching per property. This suggests the scope for further growth is good. Properties in the older eastern part of the suburb tend to fetch a premium.